Auto production plunges 16 percent in June

ISTANBUL

Turkish carmakers’ production declined by 15.8 percent in June from a year ago to 100,162 units, according to data from the Automotive Manufacturers’ Association (OSD).

Passenger car output was down 9.4 percent annually to around 69,000.

The local market shrank 6 percent last month, when a total of 109,418 vehicles were sold with passenger car sales falling 3.8 percent year-on-year to 87,858.

In June, nearly 62,000 passenger cars were imported, marking a 4.8 percent increase from a year ago. The share of imported cars in the local market was 70.5 percent, OSD said.

The industry’s exports plunged 15.8 percent to $819 million.

In the first half of 2024, local companies produced a total of 707,067 vehicles, which translated into a 3.8 percent decline from the same period of last year.

The annual decline in passenger car output was 0.4 percent to 460,743 units.

Carmakers shipped 493,527 vehicles to foreign markets, a 2.5 percent decline compared with the first half of last year.

Export revenues amounted to $17.64 billion in January-June, down 0.3 percent from a year ago.

Presently, the local auto industry has an annual production capacity of 2 million units, ranking 14th in the world and fourth in Europe in terms of production.